Standalone own-damage, two-wheeler insurance has emerged as a crucial aspect of protecting one’s prized possession on the roads. While third-party insurance is mandatory by law, it only covers damages caused to others involved in an accident. However, with standalone own damage insurance, two-wheeler owners can also ensure comprehensive coverage for their vehicles. *
When you purchase a two-wheeler, you might be concerned about unforeseen repair and replacement costs for accidental damages. Standalone own damage policy means it shields you from unforeseen expenses in such circumstances. It offers financial protection if your car sustains damage from an accident, a natural disaster, an act of man, a fire, a theft, etc. *
What Is Bike Own Damage Insurance?
Own Damage Insurance is a type of bike insurance that provides financial security if your insured two-wheeler is damaged. For instance, the Own Damage Two-wheeler Insurance Plan will reimburse you for your losses if your two-wheeler is damaged due to flooding, natural disasters, vandalism, etc. As the mandatory Third-party Liability Policy does not cover your vehicle, such two-wheeler insurance coverage is impossible. *
The Value of Own Damage Bike Insurance
Purchasing OD insurance is optional, as opposed to third-party bike insurance, which is required. Combining your own damage bike insurance with the Third-party Liability Policy ensures you will be financially secure if your two-wheeler is damaged. *
Benefits Of Purchasing Own Damage Motorcycle Insurance
Here are some justifications for purchasing an Own Damage insurance policy.
Spectacular Plans & Savings
You can benefit from your own damage bike insurance plans with incredibly low premiums. ##
Super Fast Transactions
Purchasing or renewing your two-wheeler insurance policy is simple and quick, thanks to a 100% digital platform.
Hassle-Free Same-Day Claim Settlement
Go to your account given by the insurance provider and submit your claim. Insurance professionals will handle the rest.
Instant Settlement Of Claims
Get paid right away for minor damages. By logging in and uploading a photo of the damaged two-wheeler.
Savings And Promotion
Receive customised offers and concessions for holidays and other special occasions to help you save money. ##
When you purchase a multi-year two-wheeler insurance plan, you enjoy considerable savings. ##
Why Is Two-Wheel Insurance For Standalone Own Damage Important?
While Third-party Bike Insurance helps you comply with the law and protects you from third-party liabilities, it does not cover damage to your two-wheeled vehicle. The OD plan can save you in this situation.
Protection From Theft
The Own Damage plan aids in defending you against financial harm brought on by theft of your bike or irreparable damage.
Protection Against Damage
It helps you maintain protection against losses or damages to your vehicle in the event of accidents, fires, floods, riots, strikes, cyclones, earthquakes, etc., by combining the OD plan with the Third-party Liability plan.
A bike insurance calculator is a convenient tool you may use online to check the amount of coverage needed based on your requirements.
* Standard T&C Apply
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.